Gate News reports that on March 13, according to Coinglass data, if Bitcoin breaks above $73,000, the total liquidation strength of long positions on major centralized exchanges (CEX) will reach $662 million. Conversely, if Bitcoin drops below $70,000, the total liquidation strength of short positions on major CEXs will reach $726 million.
It should be noted that the liquidation chart does not display the exact number of contracts pending liquidation or the precise value of contracts being liquidated. Instead, it shows the relative importance of each cluster of liquidations compared to nearby clusters, i.e., the intensity. Therefore, the liquidation chart reflects how the price of the underlying asset will be affected when it reaches certain levels. Higher liquidation bars indicate that when the price reaches that level, there will be a stronger reaction due to liquidity waves.
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